ali.se.18
Short

In respect and prospect of Eliott-Waves

FX:XAUUSD   Gold/U.S. Dollar
If we try to include the five wave pattern of Eliott-Wave principle we can see that in relation with the CCI the peak of wave 1 is at 1285.

Therefore if the market respects the first rule of the Eliott-Wave principle then it should not pass 1285 in favor of the longterm downtrend.

First resistance is the key resistance at 1280
Second resistance is the Eliott-Wave Rule 1 : 1285

Related Ideas

Awxell
2 years ago
What happens if it goes over 1285?
Reply
ali.se.18 Awxell
2 years ago
Imo maybe trying 1320 again but this would not interrupt the long-term downtrend.
Reply
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